China


Markets

How Chinese Lending Firm Cango Became a Bitcoin Mining Powerhouse

Cango purchased 50 EH/s worth of mining power towards the end of 2024, making it one of the biggest players in the bitcoin mining industry.

Cango reception (Credit: Cango)

Opinion

Why a U.S. Bitcoin Strategic Reserve Is Critical to Fending Off China

China has been waging a decades-long war against the U.S.’s greatest asset — the dollar. A bitcoin reserve would go a long way toward regaining our influence.

Shanghai China

Policy

Chinese Nationals Gain Access to Stablecoins in Hong Kong Via New Trial

The Hong Kong-based trials will allow for registration on a regulated stablecoin app and the purchase of tokenized financial products.

Hong Kong, China Cityscape (Unsplash)

Policy

Plan a Crypto Mine Near a U.S. Military Base? Expect a Bigger Hassle Now.

The U.S. Treasury Department issued a rule promising extra scrutiny for businesses near military sites, having already targeted a Chinese-backed crypto operation by a Wyoming missile base.

Chinese-owned MineOne is said to have built a crypto mining operation within a mile of a U.S. missile base. (Warren Air Force Base)

Policy

Bitcoin Mining Bans Can Backfire on Climate Conscious Governments, a New Research Finds

The intensive energy usage of the Bitcoin network could tempt governments to ban mining due to environmental concerns. A new research paper indicates that could be a mistake, depending on the jurisdiction.

FTX bankruptcy estate consolidates ARB airdrop (Christine Roy/Unplash)

Videos

Sliding Copper-to-Gold Ratio Presents Bitcoin Bear Case

Bitcoin's best years have been characterized by copper's outperformance relative to gold but the widely-tracked ratio continues to slide in the wake of China's stimulus announcements, offering negative cues to risk assets. What does the sliding copper-to-gold ratio mean for bitcoin? And how will the growth of M2 money supply from major central banks impact BTC's momentum? CoinDesk's Christine Lee presents the "Chart of the Day."

Chart of the Day

Markets

Bitcoin Takes Another Shot at $63.5K as China's Vague Fiscal Stimulus Deters Capital Shift

China's highly-anticipated fiscal stimulus announcement fell short of expectations, reducing the likelihood of capital flows into Chinese equities.

BTC tops $63K. (CoinDesk)

Markets

Bitcoin Bounces 7% Above $63K as Crypto Traders Eye China Stimulus Statement

Solana's SOL, Avalanche's AVAX and Render's RNDR led the crypto rally as almost all but one member of the CoinDesk 20 Index posted gains.

Bitcoin price on 10 11 (CoinDesk)

Markets

Bullish Bitcoin Hopes Dented as China Eases Stimulus Plans

The lack of new measures and announcements of new stimulus at a Chinese briefing today pared hopes of a long-drawn stimulus package - one that contributed to a bitcoin run in the past few weeks.

16:9 Crop: Shanghai, China (Li Yang / Unsplash)

Markets

Bitcoin, Asian Equities May Be Losing Capital to China Stocks

Even with a 3-5% cost to convert [stablecoin] USDT into equities, the potential upside of 50-70% in China's stocks makes this a strategic move, one observer said.

Viewing the stock board displayed on the electronic bulletin board in the business district